AImazing, a Singapore-based retail-tech startup, has announced the launch of its retail analytics that aims to provide shopping malls with real-time data analytics, enabling data-based decisions.
The firm’s proprietary technology allows mall management seamlessly and accurately capture all transactional data in their mall without expensive integration.
Its data platform also provides performance and benchmarking reports, as well as the ability to customise complex recommendation engines for multiple use cases.
Founded in 2015, AImazing is headquartered in Singapore with operations in Malaysia, the Philippines, and Taiwan.
Currently, AImazing processes three million data points a month from 1,000+ devices in the region and the company said there is a pipeline of 10,000 devices to be implemented in the next 12 months.
Successful pilot projects include a completed project with Hong Leong Holdings through Enterprise Singapore’s Open Innovation Challenge Programme, and other projects live with malls in Singapore, Malaysia, and the Philippines.
“We aim to enable shopping malls to support their retail tenants in making decisions by understanding data such as peak shopping periods in the malls, average basket size, best selling items, and how various categories of merchants from F&B to clothing and retail are performing in real-time,” said Jun Ting, Chief Executive Officer of Aimazing.
Market research reports conclude that offline retail represents 91% of the total retail market in ASEAN and will be the dominant channel of retail sales in the foreseeable future.
As mall operators are unable to track daily sales or provide retail rebates and tenant support in response to Covid-19 events and lockdowns, valid real-time data and important insights are needed to make business decisions daily, the firm said.
Prior to embarking on this mission to organise the world’s offline retail data, Jun Ting was a serial entrepreneur who was part of the mobile wallet space venture – but he and his team were met with multiple roadblocks and obstacles along the way.
This changed when a team from Facebook contacted Jun Ting in 2018 to enquire about the solution’s offline transactional data collection capabilities. It was then Jun Ting realised the gaping hole in the market for a solution that can aggregate and make sense of consumer data that happens offline.